indie Semiconductor, Inc. (NASDAQ:INDI) Receives $8.92 Consensus Target Price from Analysts

Shares of indie Semiconductor, Inc. (NASDAQ:INDI) have been assigned a consensus rating of “Buy” from the six brokerages that are currently covering the stock, MarketBeat Ratings reports. Six investment analysts have rated the stock with a buy recommendation. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $8.92.

A number of equities research analysts have recently issued reports on the stock. Benchmark dropped their target price on shares of indie Semiconductor from $12.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, November 5th. Roth Mkm cut their price objective on shares of indie Semiconductor from $7.00 to $5.00 and set a “buy” rating for the company in a report on Friday, November 8th.

indie Semiconductor Stock Performance

Shares of NASDAQ:INDI opened at $4.28 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.39 and a quick ratio of 1.87. indie Semiconductor has a 1 year low of $3.16 and a 1 year high of $7.82. The firm has a market capitalization of $864.22 million, a PE ratio of -6.39 and a beta of 1.41. The business’s 50 day moving average price is $4.43 and its 200-day moving average price is $4.44.

Insider Buying and Selling at indie Semiconductor

In other news, CEO Donald Mcclymont sold 200,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $4.71, for a total transaction of $942,000.00. Following the completion of the transaction, the chief executive officer now directly owns 18,351 shares in the company, valued at approximately $86,433.21. This represents a 91.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Michael Wittmann sold 18,375 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $4.10, for a total value of $75,337.50. Following the sale, the chief operating officer now directly owns 28,860 shares of the company’s stock, valued at $118,326. The trade was a 38.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 276,593 shares of company stock worth $1,272,291 in the last ninety days. 8.20% of the stock is owned by insiders.

Institutional Trading of indie Semiconductor

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INDI. American Trust boosted its holdings in indie Semiconductor by 28.2% during the 3rd quarter. American Trust now owns 28,976 shares of the company’s stock valued at $116,000 after acquiring an additional 6,375 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of indie Semiconductor by 11.8% during the second quarter. The Manufacturers Life Insurance Company now owns 62,769 shares of the company’s stock worth $387,000 after purchasing an additional 6,608 shares in the last quarter. Truvestments Capital LLC boosted its stake in shares of indie Semiconductor by 15.6% in the third quarter. Truvestments Capital LLC now owns 56,456 shares of the company’s stock valued at $225,000 after purchasing an additional 7,601 shares during the period. Xponance Inc. acquired a new position in shares of indie Semiconductor in the second quarter valued at approximately $63,000. Finally, Meros Investment Management LP increased its stake in indie Semiconductor by 1.6% during the 2nd quarter. Meros Investment Management LP now owns 821,229 shares of the company’s stock worth $5,067,000 after buying an additional 12,836 shares during the period. Hedge funds and other institutional investors own 67.73% of the company’s stock.

indie Semiconductor Company Profile

indie Semiconductor, Inc provides automotive semiconductors and software solutions for advanced driver assistance systems, autonomous vehicle, in-cabin, connected car, and electrification applications in the United States, South America, rest of North America, Greater China, South Korea, rest of the Asia Pacific, and Europe.